Finishing up my first year in tech IBD coverage, having early chats with a few MM's looking to bring someone on in Q3 / 4. I've spoken to a handful of people who've spent a couple years at CGE, Baly, etc., but their experiences have varied in terms of culture / hours / lifestyle. So far I've heard...
- Healthcare: 5am - 5pm, earnings season +3-4hrs each day
- Healthcare: 5am - 8/9pm
To those of you who have worked at MM's, specifically in SF or LA, can you speak to your hours at the associate level (1-2 years in banking, first year on the desk)?
This is via secondhand info but 5am-6pm for TMT (More during earnings season obviously). Will also vary depending on your coverage size and pod size
Good to know - from what I've heard it tends to be the newer funds where hours can be worse (setting up models etc.)
Just curious. Why does it seem from this post that MMs start absurdly early ~5am? Most of the SMs I’ve worked at start latest at 8am, rarely the bosses / junior coworkers would be in before then. Usually they come in around 9-10am.
assuming because OP is referring to west coast- so 3 hours behind EST
Ok. Just thought those were PT originally
Yeah, west coast - from what i've heard for nyc it's more like an 8am start
Lifestyle will depend 200% on the individual PM heading the team. Even within the same fund, the experience will vary greatly depending on the specific team.
Thanks for that - seems to be the sentiment I'm hearing. Would appreciate some more color based on your experiences.
The quote I’ve heard is you can literally feel that you are working a different job (I.e. analyst on one team that works very long hours relative to another team that doesn’t.)
There’s not really any thing else that can be said.
I work in a SM but know a bunch of MM analysts - generally 5-5/6 seems about right. 5-9 on a daily basis sounds way too much. Yea you are gonna do reading and maybe take some calls when you get off but you most likely won't be in the office at 9pm every day.
That's helpful - thanks
The couple of people I know on west coast MM get in between 5-5:30am and then leave around 3-5pm. Usually, a 10-12 hour day.
That's not bad at all - from the general sentiment it seems like PM / pod culture matters the most. Do you know if they're in TMT?
What exactly are you trying to solve for? Narrowing it down so you can ascertain if it's one of the seats you're talking to? Making a generalization about TMT seats at a MM on the West Coast? Does it matter if someone tells you its 11 hours vs 12 hours vs 13 hours a day? If you care so much between 1-2 hours then it's not for you.
The bottom line is most HF jobs are about the same. It's ~12 hours a day. It's like most public market buyside jobs. Nobody does all nighters. Maybe during earnings you're working 16 hours or whatever but the run-rate is around 12 hours a day, 5 days a week + weekend work.
Unless your PM is workaholic, there won't be weekend work
I'm trying to get more color on the culture / hours at west coast MM's, given my initial exposure was limited in terms of the number of data points
Most people in the industry will work on the weekends - if you don't, you are in the minority. Weekend work is not your PM asking you to come in the office on Sat/Sun to put together a deliverable. After you move past the junior analyst phase, your expected contributions will evolve and your weekend work is mostly self directed. Typical weekend work are things like putting together a weekly email for your team on Sun (depending on the ask and your team's email structure, this could take a few hours), finishing up some researching / analysis that you couldn't get to M-F, or reading.
no more SB credit but this x100 ^^^
This is helpful - thx
Placeat quis exercitationem corrupti aut ut voluptatibus. Nemo laborum quia dolore ipsam qui quaerat quas. Nihil corporis sint repellendus quis autem. A voluptatem soluta error debitis sint et non.
Aliquam enim blanditiis ad reprehenderit dolor aut a. Et nesciunt eaque eveniet reiciendis. Sint earum neque veritatis perferendis reprehenderit. Sint dolores et est in.
Rerum quod qui quia facilis eius consectetur. Et alias vel nihil officiis.
Earum fugit ipsa enim. Qui id rerum sapiente. Architecto et eligendi fuga autem qui et est.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...